Market News | Daily Main Token Trends Overview

2023-08-30, 03:30

The article is reprinted from the daily market overview of W-Strategy who is a guest streamer of Gate.io, a senior strategy analyst of cryptocurrency, and the founder of Wcollege. The article will analyze daily main token trends, short-term strategies, and long-term strategies for you in 3 minutes.

*The article is the original content of W-Strategy. Gate.io is only for reprint and distribution, and the copyright belongs to the author himself.

BTC

Concise Commentary: Last night, the overall market surged due to the news of GrayScale winning the SEC lawsuit, breaking through the $28.1K USD level. In the short term, there might be a retest of the $26,975 USD level. If the price doesn’t recover above $29.7K USD, the bearish trend remains intact.

CYBER

Concise Commentary: Last week’s strategy involved step-by-step accumulation at $4.100 USD, $3.933 USD, and $3.783 USD, followed by a significant trend development. The peak target was exactly hit at our previously provided target of $8.185 USD, with yesterday’s high reaching $8.26 USD, a substantial gain of 125.15%, closely aligning with the Fibonacci sequence target.

Such precise target hits indicate a high concentration of market-making chips in the hands of market makers. Successfully hitting accurate peak targets in sequence suggests the completion of the main bullish wave. In the short term, watch whether $6.700 USD and $5.875 USD hold as support. There’s potential for a final upward wave targeting $17.79 USD. Short-term monitoring is advised using Fibonacci retracement levels for exit points.

WLD

Concise Commentary: Short-term support was established at $1.109 USD yesterday, followed by a substantial rebound wave that precisely hit the upper resistance level at $1.383 USD. Short-term rebound might require consolidation, with a target of $1.493 USD above. Holding above $1.275 USD without breaking can be seen as a suitable position for accumulation.

OAX

Concise Commentary: The overall four-hour chart has been in a decline for five months. Yesterday, a representative peak was reached at $0.1420 USD. Despite the ongoing downtrend, there’s an intention to hold the critical support level at $0.1055 USD. Continued observation is recommended to see if it stabilizes. There’s potential for a second attack wave targeting $0.1271 USD.

SEI

Concise Commentary: This week’s positioning was set in the bottom range at $0.1202 USD. Subsequently, a substantial rebound wave occurred, resulting in a profit realization of 78.28%. Short-term resistance is at $0.1535 USD. Watch for a breakthrough above $0.1535 USD, and consider targets at $0.1668 USD and $0.1751 USD in sequence. It’s advisable to secure profits first.

DOGE

Concise Commentary: The overall daily chart has been in a downward trend for 835 days. A significant trend development might occur before the end of the year. Holding steady above the base price of $0.05099 USD, there’s a possibility of an independent trend upward towards $0.10799 USD, $0.15879 USD, $0.43360 USD, and historical highs.

For more details, please follow W-Strategy | post account:
https://www.gate.io/post/AxMRBAQDWVVVBl9QQgO0O0OO0O0O555

Author: W-Strategy

*This article represents only the views of the author and does not constitute any investment suggestions.

*The article’s content is original and the copyright belongs to the author. If reprinting is required, please indicate the author and source. In all cases, legal action will be taken due to copyright infringement.